-- 独立研究机构CFRA向发布了以下研究报告。CFRA分析师的观点总结如下：我们将12个月目标价下调8美元至196美元，市盈率为19倍（2026年每股收益预期不变），较其五年平均预期市盈率23倍有所折让，这反映了地缘政治风险。我们将2026年每股收益预期从10.74美元下调至10.33美元，并将2027年每股收益预期从12.07美元下调至11.58美元，主要原因是中东冲突导致总预订量增长放缓。鉴于公司长期的竞争优势和暂时的地缘政治不利因素，我们维持“买入”评级，因为该股目前被低估。公司的“互联旅行”平台和“天才”忠诚度计划正在支持利润率更高的直接预订，这表明人工智能举措正在加强消费者参与度，而不是削弱平台的中介作用。强劲的自由现金流为未来的股东回报提供了支持，其中包括第一季度36亿美元的股票回购。尽管中东冲突将影响第二季度的预订量，但BKNG以往的经验表明，在经历地缘政治或经济动荡后，旅游业往往会反弹。美国第一季度的客房夜数增长加速至10%左右，为短期增长提供了动力。
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International
FOMC Holds Federal Funds Rate Steady at Range of 3.50% to 3.75%
Sectors
Update: Gold Falls to a Month Low as Rising Energy Costs Expected to Boost Inflation
(Updates prices.)Gold traded lower for a third-straight day early Wednesday, pressured by inflation worries even as the Federal Reserve's policy committee is expected to leave rates unchanged when it ends its two-day meeting this afternoon.Gold for June delivery was last seen down US$50.40 to US$4,558.00 per ounce, the lowest since March 30.With oil trading near four-year highs amid the Iran war, traders have moved away from gold as a safe haven, turning instead to the dollar and bonds to hedge against the threat rising energy prices will boost inflation and force interest rates higher."With oil-led inflation risks remaining the main driver, as rising energy prices strengthen the dollar and reinforce a higher-for-longer interest rate outlook. For now, the market's immediate focus remains on mediation efforts, with a reopening of the strait and a subsequent drop in oil prices representing the biggest short-term upside catalyst for both gold and silver," Saxo Bank noted.But higher rates are not yet on the way. The Federal Open Market Committee and the Bank of Canada will both release interest-rate decisions today and both are expected to leave rates steady.The dollar was higher, with the ICE dollar index last seen up 0.25 points to 98.89. Treasury yields also moved up, with the U.S. two-year note last seen paying 3.918%, up 6.8 basis points, while the yield on the 10-year note was up 4.7 points to 4.4%.
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Sectors
Sector Update: Energy Stocks Rise Wednesday Afternoon
Energy stocks were higher Wednesday afternoon, with the NYSE Energy Sector Index and the State Street Energy Select Sector SPDR ETF (XLE) each rising about 2%.The Philadelphia Oil Service Sector Index was increasing 0.5%, and the Dow Jones US Utilities Index was shedding 0.5%.Oil prices rallied Wednesday after US President Donald Trump reportedly rejected an Iranian proposal to lift the naval blockade. Trump told Axios on Wednesday he will maintain the US naval blockade of Iranian ports until Tehran agrees to a nuclear deal. Iran wanted the Strait of Hormuz opened before the two sides could sit down to discuss uranium enrichment at a later stage.Front-month West Texas Intermediate crude oil jumped 7.3% to $107.18 a barrel, and the global benchmark Brent crude contract climbed 7.4% to $119.47 a barrel. Henry Hub natural gas futures fell 2.2% to $2.63 per 1 million BTU.In corporate news, Phillips 66 (PSX) shares jumped past 6%. The firm reported Q1 adjusted earnings Wednesday of $0.49 per diluted share, swinging from a loss of $0.90 a share a year ago. Analysts polled by FactSet expected a loss of $0.54 a share. Phillips 66 also raised its annualized quarterly dividend by 7%.Bloom Energy (BE) shares surged nearly 24% after it reported Q1 adjusted earnings late Tuesday of $0.44 per diluted share, up from $0.03 a year earlier. Analysts polled by FactSet expected $0.12. Revenue also handily beat market consensus.TotalEnergies (TTE) shares were up 0.9% after it posted higher Q1 adjusted earnings and revenue.
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